Capital gain tax on second home

I agree with the other attorneys. There are simple ways to accomplish your goal without causing you potential problems down the road. If you...

I have provided the primary income with 3 dependents until the time of my divorce in August. Can I claim my children on taxes?

I agree with the other attorneys. It appears that you are the custodial parent with the most custody time during the year and provided the...

I withdrew from a non-spouse beneficiary IRA Dec 2013 and missed the 60-day rollover period. Help

I agree with the other attorneys. You need to take this up with a tax professional immediately to protect any rights you may still have.

In Rhode Island, does a RI publishing company have to pay RI sales tax to a RI-based company that manufactures the books?

This is typically the process in most states. So long as you are selling to a vendor that has a resale license and you obtain a valid resale...

I understand there's no FBAR in California. Aside from taxes+interest there should be no penalties due tax underpayment, right?

Yes, you will owe tax for the unreported income in California. California will also charge penalties and interest on the understatement. ...

IRS audited me for tax years 2011, 2012, 2013. The 2011 assessment time is expiring is it advisable to extend the asessment time

You do not have to extend the statute, but in my experience the IRS will issue a Statutory Notice of Deficiency to protect their position if you do...

I believe this question was asked twice. Yes, there is generally a ten year statute that begins when the return is filed.

What is the property tax consequences if a 90 year old widowed mother give as gift her daughter the property now while alive ?

Under the California Taxation code a parent can gift and unlimited valuation to a child of their principal residence without a reassessment, and a...

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Is there a stature of limitations on DC State Taxes?

I looked up the DC collection statute and it is typically 10 years (I am a CA attorney). However, athe statute does not begin until you actually...

Capital Gains Tax

A Section 1031 exchange defers the gain through the tax basis of the asset. When you later sale the asset you are responsible for any gains at the...